It is a fundamental postulate of this book that civilization consists of man's adjusting his institutions to obtain from his natural and cultural environments a more satisfactory existence. This volume attempts to present economies as the science of what is possible in the realm of production and distribution in a democratic society using a machine technology. Originally published in 1934.A UNC Press Enduring Edition -- UNC Press Enduring Editions use the latest in digital technology to make available again books from our distinguished backlist that were previously out of print. These editions are published unaltered from the original, and are presented in affordable paperback formats, bringing readers both historical and cultural value.